In March 2023, the World Bank Group released the report titled Fintech and the Future of Finance: Market and Policy Implications (“the Report” for short). The Report argues that fintech is rapidly and profoundly reshaping the landscape of the financial industry and underlines the need for policymakers and financial regulators to innovate proactively to address new challenges. The Report discusses the underlying drivers of fintech’s development and the impacts and risks it poses to markets. Based on a deeper understanding of fintech, the Report also explores the objectives and trade-offs of core financial policies and analyzes the regulatory framework of the financial sector with an outlook for the future. The Beijing Frontier Institute of Regulation and Supervision Technology (FIRST) now presents excerpts from the main content of the Report, divided into two sections: the first part focusing on technology and markets, and the second part addressing policies and regulation. This section is the second part for reference.

Chinese website redirect link:https://www.bj-first.org.cn/single?id=259